Grading the Biden Presidency (The Economy)

 

 

GRADING THE BIDEN PRESIDENCY:
THE ECONOMY

The Biden presidency will be remembered for a dramatic spike in inflation which negatively impacted most Americans. However, higher prices were inevitable following the mass economic and social disruptions of COVID, which was a worldwide crisis.

In fact, the United States economy fared far better on inflation and unemployment numbers than most other industrialized countries–and also recovered much more quickly. Higher inflation and the inevitable affixation of political blame cost Democrats the 2024 election, but the raw apolitical economic data over four years indicates admirable accomplishments. These achievements are proven by the substantial decrease in the inflation rate during Biden’s final 18 months in office (now steady at about 2.5 percent) and record growth in job creation.

Stock markets — which predecessor Trump frequently cited as the primary barometer of national economic success — reveals record profits and a comprehensive boom in markets throughout Biden’s term.

Moreover, we can expect America’s recovery and (relatively) healthy economy to continue at least through fiscal year 2025, until Republicans get full control of the budget and appropriations, and then we’ll see what happens under their leadership.

Grade: 7 (on a 1-10 scale)

2/11